MidnightTrader Earnings Play: National Semiconductor

National Semiconductor (NSM | Quote | Chart | News | PowerRating) is due out with its Q4 results after the bell tonight. The mean estimate among analysts polled by Thomson Financial is for EPS of $0.26 on revenue of $449 million.

NSM is one to watch in the extended-hours session for its consistency. The stock has largely narrowed or reversed its nighttime move the next day after a post-bell earnings report. It has cut its extended-hours performance in six of the last eight quarters.

On March 6, 2008, NSM jumped 11% in night trade after beating profit expectations by a penny. It managed to add a little more to its gain on March 7, rising 11.7% by the closing bell.

On Dec. 6, 2007, NSM declined 2.1% in after-hours trade after reporting better-than-expected Q2 results. The stock turned to the plus side the next day, ending the Dec. 7 regular session up 4.3%.

On Sept. 6, 2007, NSM fell 3.1% in night trade despite topping Q1 estimates. Shares trimmed their losses the next day, closing the regular session down 3%.

On June 7, 2007, the stock gained 9.5% in the after-hours session after reporting ahead with Q4 results and guiding for a sequential sales gain. The gain swelled to 14.7% the next day.

On March 8, 2007, NSM gained 5% in night trade after topping Q3 estimates and offering in-line guidance. Shares, though, couldn’t build on that momentum the next day and eased off that high to close the regular session up 4.5%.

Brooks McFeely is widely regarded as the leading expert on extended-hours trading. He is a Managing Partner for Brochet Capital Partners, LP and the founder of Midnight Trader, Inc. (www.midnighttrader.com), the leading provider of pre-market and after-hours trading analysis and news to retail and institutional investors.